S&P closes barely lower despite N. Korea tensions

Stocks slide on continued concern over tension between US and North Korea

Malita Javier
|
13 Agosto, 2017, 22:46

On Thursday, the three major US indexes logged their worst performances since mid-May (http://www.marketwatch.com/story/US-stocks-set-up-for-another-day-of-losses-as-north-korean-tensions-simmer-2017-08-10) in a session dogged by geopolitical concerns. South Korea's KOSPI fell 1.8 percent to almost a three-month low.

"There's not a fundamental reason why what we're seeing out of North Korea right now should affect stock market prices, but it's being used as the reason to sell off right now because we've been looking for it for so long", Schiegoleit said. But the market quickly bounced back, led by numerous tech stocks that were sinking on Thursday.

Franco Nevada Corp rose 3.9 percent to C$95.65, while Barrick Gold Corp was up 1.9 percent at C$21.26. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 2.1 basis points at 2.220 percent.

President Donald Trump said on Tuesday that USA threats from Pyongyang would be met with "fire and fury", which prompted North Korea to say it was considering plans for a missile strike on the us pacific territory of Guam.

Investors had rushed to safe-haven assets after strongly worded exchanges between Washington and nuclear-armed North Korea late on Tuesday.

The Dow Jones Industrial Average .DJI closed down 204.69 points, or 0.93 per cent, at 21,844.01, the S&P 500 .SPX lost 35.81 points, or 1.45 per cent, to end the session at 2,438.21 and the Nasdaq Composite .IXIC fell 135.46 points, or 2.13 per cent, to 6,216.87.

GOT A PULSE: Health care stocks, which have been in a slump, were headed higher. BNY Mellon FX strategist Neil Mellor told Reuters that in recent years, "the market hasn't really reacted to things on the Korean Peninsula" because in the past "it [has been] largely North Korean sabre-rattling".

LACKLUSTER QUARTER: Office Depot sank 24.5 percent after the office supply company's second-quarter results fell short of Wall Street's projections. Asian stocks also fell across the board, while perceived safe-haven assets gold and the Japanese yen, rose. Rival Advanced Micro Devices was also down 2.6 percent.

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Its sweeping claims overlap with those of ASEAN members Vietnam, the Philippines, Malaysia and Brunei, as well as Taiwan. The protracted quibblings delayed the statement's release, two Southeast Asian diplomats told the AP.

Meanwhile, authorities have directed telecom authorities to block mobile Internet services in Budgam district. The police said there was information about presence of the militants in the area and the cordon was laid.

The United States has unsuccessfully lobbied for the 27 members of the ASEAN Regional Forum to suspend North Korea's membership. Bang was in the Philippines with a North Korean delegation that includes North Korean Foreign Minister Ri Yong Ho .

He would take both golds in the 2012 and 2016 Olympics as well, along with a raft of World Championship medals and broken records. According to Jamaican team doctor Dr Kevin Jones , Bolt had suffered from "cramp in his left hamstring".

In response, President Donald Trump has warned North Korea repeatedly that if it takes such action, the USA will hit back. There's a sense of patriotism among those who cite the island's history of Guam residents serving in the USA military.

Prashant Trivedi, the state's top health official, admitted there has been a problem in the pipeline which supplied oxygen . CM said that the Union Minister's Minister, Anupriya Patel will go to Gorakhpur on Sunday.

They play at Denver in Week 2 and at Arizona in Week 3 before returning home to face the Los Angeles Rams on October 1. The youngsters and those fighting for roster spots took over in the second half and there were some bright spots.

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